1) Business Leadership South Africa wrote a letter to the Minister of Finance, Deputy Minister, and Director General of the South African Treasury ahead of the 2020 Medium-Term Budget Policy Statement regarding fiscal policy and economic recovery from the pandemic.
2) The letter urges the government to pursue a tough budget that trims spending, controls the public sector wage bill, and prioritizes necessary social and recovery spending while protecting growth. It also calls for expenditure cuts in areas with minimal growth impact.
3) The business group offers to help fund infrastructure projects and solve the energy crisis if the government removes regulations and allows for private sector involvement and solutions. It asks the government to recognize its own capacity limitations and empower the private sector.
Mobilising domestic resources for sustainable development in cameroon is the ...SHILLIE PETER (DBA Fellow)
Considering that financing development from domestic resources can be more cost effective to a nation, there is urgent need to strengthen and mobilize the domestic resources of the Country. A more guaranteed source of domestic resources for financing development is through taxation.
Madam Speaker
In A Tale of Two Cities, Charles Dickens opens with:
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity… we were all going direct to Heaven, we were all going direct the other way...”
So too is the present time. As a country, we stand at a crossroads. We can choose a path of hope; or a path of despair. We can go directly to Heaven, or as Dickens so politely puts it, we can go the other way.
Mobilising domestic resources for sustainable development in cameroon is the ...SHILLIE PETER (DBA Fellow)
Considering that financing development from domestic resources can be more cost effective to a nation, there is urgent need to strengthen and mobilize the domestic resources of the Country. A more guaranteed source of domestic resources for financing development is through taxation.
Madam Speaker
In A Tale of Two Cities, Charles Dickens opens with:
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity… we were all going direct to Heaven, we were all going direct the other way...”
So too is the present time. As a country, we stand at a crossroads. We can choose a path of hope; or a path of despair. We can go directly to Heaven, or as Dickens so politely puts it, we can go the other way.
President Cyril Ramaphosa has reiterated the need to build both a strong developmental state and a fast growing private sector to achieve a world class economy.
The spending allocation pattern of national governments varies depending on public policy for
desired effects but the outcome is rather controversial according to existing literature. This research aims to
explore the relationship between government expenditure, economic development and economic growth in
Brazil from 1994 to 2017. The Human Development Indicator (HDI) index is a representative measure of
economic development and is comprised of three dimensions:
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Opening speech by Mr Ramathan Ggoobi, Permanent Secretary/Secretary to the Treasury at the Conference on Reshaping the tax system to support the Financial Sector Development Strategy (FSDS)
Kampala, Uganda, 14th–15th December 2022
The two-day conference was convened by Uganda's Ministry of Finance, Planning and Economic Development, and co-hosted by ICTD's DIGITAX Research Programme and TaxDev.
President Cyril Ramaphosa has reiterated the need to build both a strong developmental state and a fast growing private sector to achieve a world class economy.
The spending allocation pattern of national governments varies depending on public policy for
desired effects but the outcome is rather controversial according to existing literature. This research aims to
explore the relationship between government expenditure, economic development and economic growth in
Brazil from 1994 to 2017. The Human Development Indicator (HDI) index is a representative measure of
economic development and is comprised of three dimensions:
MTBiz is for you if you are looking for contemporary information on business, economy and especially on banking industry of Bangladesh. You would also find periodical information on Global Economy and Commodity Markets.
Opening speech by Mr Ramathan Ggoobi, Permanent Secretary/Secretary to the Treasury at the Conference on Reshaping the tax system to support the Financial Sector Development Strategy (FSDS)
Kampala, Uganda, 14th–15th December 2022
The two-day conference was convened by Uganda's Ministry of Finance, Planning and Economic Development, and co-hosted by ICTD's DIGITAX Research Programme and TaxDev.
The finance minister maintained a commendable balance between the evenly stronger and mostly diverging compulsions of economic growth, fiscal discipline and political expediency.
Most of the budget provisions are inarguably aimed at ensuring inclusive growth, and bringing in equity in taxation and provisions.
A record number of measures have been introduced, to bring predictability, transparency and conciliation in the tax regime of the country.
, “Our greatest glory is not in never falling, but in rising every time we fall.”
Nations emerge from the ashes of such grave events, and we are no exception. As a country we have faced war on terror and wars imposed by neighbours and economic burdens of providing refuge to millions and facing long -term economic sanctions all in a lifetime of a generation.
A digital copy of the BH24 (30 November 2015 edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.
The Finance Minister read out the longest ever budget speech. By the end of it she was too exhausted to even complete the speech. This pretty much explains the state of affairs.
Like a caged canary aspiring to fly in the blue sky, the finance minister very enthusiastically read out the vision for new modern India. However, after two hours of aspirational efforts, it was evidently clear that she does not have enough strength to break the shackles and release herself. In the end, she was settled in the cage, totally exhausted and her wings ruffled.
The positive take away from the budget statement is that the aspirations are really high and the vision of new modern India very clear. The government for the first time made an unambiguous admission that the way forward is a progressive socio-economic structure that is egalitarian but encourages and supports private enterprise. It is a major achievement to officially abandon the socialist legacy that focused on curbing demand rather than enhancing supply and hindered the seamless integration of Indian economy in the global economy.
Mobilising domestic resources for sustainable development in cameroon is the ...SHILLIE PETER (DBA Fellow)
Considering that financing development from domestic resources can be more cost effective to a nation, there is urgent need to strengthen and mobilize the domestic resources of the Country. A more guaranteed source of domestic resources for financing development is through taxation.
After a long spell of staying in denial, the policymakers have shown some urgency in past 6 months. However, they have so far refrained from pressing the panic button. The investors are eagerly waiting to see the finance minister pressing the red button hard today.
In my view, the current state of Indian economy is akin to a person who is single wage earner for his family; has little savings; chronically suffered from hypertension and diabetes, and recently got a heart attack.
This person cannot afford to spend couple of months in bed for recuperating. He has to immediately go for work so that he can pay the bills and feed the family.
Impact of the COVID-19 pandemic on micro, small, and medium enterprises (MSM...MicrosaveConsulting1
MSC presents the report on the impact of the Covid-19 pandemic on micro, small and medium enterprises based in Kenya. It also highlights how the post-pandemic relaxations haven't helped these enterprises in reaping the financial benefit.
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Donate to charity during this holiday seasonSERUDS INDIA
For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
#charityforchildren, #donateforchildren, #donateclothesforchildren, #donatebooksforchildren, #donatetoysforchildren, #sponsorforchildren, #sponsorclothesforchildren, #sponsorbooksforchildren, #sponsortoysforchildren, #seruds, #kurnool
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
State crafting: Changes and challenges for managing the public finances
Letter minister mboweni 21 october 2020
1. BUSINESS LEADERSHIP SOUTH AFRICA
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businessleadership@businessleadership.org.za
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www. businessleadership.org.za
Dr. Adrian Enthoven, Busisiwe Mavuso (Chief Executive Officer), Daniel Mminele, Dominic Sewela, Leila Fourie,
Lungisa Fuzile, Mike Brown (Deputy Chairman), Mpumi Madisa, Mxolisi Mgojo, Nolitha Fakude,
Nonkululeko Nyembezi-Heita (Chairman), Shameel Joosub, Shirley Machaba
21 October 2020
Attention: Minister Mboweni
Deputy Minister Masondo
Director General Mogajane
Per E-mail: tito.mboweni@treasury.gov.za
Mary.marumo@treasury.gov.za
Dondo.mogajane@treasury.gov.za
Dear Minister, Mboweni, Deputy Minister Masondo and Director-General Mogajane,
Normally we are only treated to two budget instalments per year – in February and October,
but this year it will be three. Three opportunities to correct the direction of travel South Africa’s
economy is on and three opportunities to help business in South Africa create jobs, invest and
grow the economy. To make long-term investment decisions, businesses require certainty
about the path forward for government finances.
For all the talk of structural reform, next week’s Medium-Term Budget Policy Statement
(MTBPS) is, of course, a fiscal event – yet fiscal credibility in South Africa is equal parts about
where the trend of long-term growth will be as about tax and expenditure measures. The
interests of business and Treasury, therefore, align in wanting to see the most conducive
environment that leads to the fastest growth in output, and therefore revenue for the fiscus
that would then support government expenditure on the pressing needs in our country – in the
most sustainable way.
Fiscal sustainability is a constant topic of conversation in the boardrooms of companies large
and small in our country. There is concern about various risks: bond market dislocations
including the risk of failed auctions, through to banking sector disruptions and increases in the
cost of borrowing. These all make investment that will create jobs difficult. Indeed, you have
highlighted clearly a fiscal crisis is on the horizon without corrective action to “close the hippo’s
jaws”.
Business, therefore, backs a tough budget which aggressively trims remaining fat,
concentrated on revenue collection efficiency, with meaningful restraint on the public sector
wage bill and priority given to necessary social and recovery spending. Cuts must be in a
targeted way that protects growth and government revenue.
Whilst the desire to see a ‘primary balance’ by 2023/24 sounds rather dry, business
understands it is important as a step towards balancing the books and stabilising debt levels
as a share of GDP. Equally, expenditure on the compensation budget must fall toward 10.5%
of GDP from 14.2% this fiscal year. Healthcare, education and the National Prosecuting
Authority must be prioritised, while poor past decisions mean substantial commitments to
2. 3
SOEs also have to be met (particularly Eskom). Pain has to be taken on budget lines where
the growth impact will be smallest. It is important, too, to set out a roadmap toward the
elimination of SOE subsidies and bailouts that is more credible than past promises.
Many issues that were clear in the emergency budget at the end of June were thrown forward,
some to the Budget in February 2021. Business wants to hear some detail at the MTBPS to
reduce doubt and aid planning for the year ahead in such uncertain times. An MTBPS that
can establish credibility and a path out of this crisis will boost confidence and tilt the dial on
investment and hiring decisions that are so uncertain at present. Decisions are always made
in business at the margin and Treasury should affect trust and faith at the margin to make a
real difference.
Government must also recognise, however, through this MTBPS and expenditure choices
where government has the capacity to do things. Business, through BLSA, B4SA and other
forums have provided an incredible amount of technical support, personnel and expertise into
government over the past two and a half years, pro bono, in response to the President’s thuma
mina call. Yet a recovery from a crisis of this depth cannot be micro-managed and must be
unleashed with the state assembling the right foundations.
The government must understand where it does not have the capacity (let alone the funds) to
drive elements of the recovery. As Operation Vulindlela – the Treasury-led process – grows
into something much bigger at the level of the Presidency hopefully in the coming months –
this must be a central rallying point.
There are three key areas in this regard which are interlinked.
1. First, the government’s infrastructure push is welcome but cannot be fully centrally
directed at every stage and must see a greater degree of private-led provisioning and
financing of bankable projects. Our member firms, including banks and asset
managers – stand ready to fund bankable and economically positive infrastructure in
significant size in the coming years. Yet uneconomical and pet projects distract.
2. The second issue is that the private sector has the capacity to rapidly solve our current
and growing future energy crisis. The private sector can finance and deliver the
projects rapidly and on budget for their own use embedded in their operations, or into
a smart future-facing grid managed by an Independent Transmission System Market
Operator either to be bought by specific buyers or for general use. Government simply
needs to stand out of the way, change its mindset (and make some small amendments
to regulations) and allow others to solve the problem. Government can then be free to
direct a pro-jobs and pro-local content industrialisation that helps effectively manage a
Just Energy Transition (as development theorists now call the inevitable process of
shifting energy production from fossil fuels to renewable sources).
3. The third area is the need for business to have the freedom to find the right technical
mix of skills in their businesses to make the maximum impact that will allow us to hire
the largest number of South Africans. This means a liberalisation of the key skills visa
list and far more efficient administration of it.
The partnership of business and state should be very simple – we want to grow as fast as
possible, which allows us to hire the most people possible. With growth comes increased tax
revenue, but tax can also stimulate or restrain growth. Increased tax rates divert money from
investment, which slows the recovery. Tax collection can be improved by clamping down on
the illicit economy and continuing to invest in improved collection capacity at SARS.
3. 3
At the same time we must ensure that state expenditure is free of vested interests, and as
efficient as possible, particularly in spending on education, skills and health care for all.
Our interests are aligned. We are interested in a conducive environment that is eliminating
poverty and reducing inequality for our member firms to flourish in. Cutting expenditure can
only get one so far if there is no growth. The same growth that will help Treasury with revenues,
and shareholders and employees with income, is the growth that will lead us away from the
fiscal cliff edge and the path to an IMF programme.
The credibility of government’s reform and recovery plan will combine with the fiscal credibility
set out in the MTBPS to lay out the train tracks from here. We certainly do not want a path that
leads to an IMF programme, given we know it can be avoided by the right choices being made
with strong leadership that sweeps away vested interests and stale thinking. The choices
outlined in the coming week will dictate if we are on that path and those steps are being taken.
It really is now or never, and we wish you luck on the 28th
.
Yours Sincerely,
____________________
Busisiwe Mavuso
Chief Executive Officer
Business Leadership South Africa